23 september 2006
Rabobank Foundation into micro credit in Bangladesh
Michael de Groot, programme manager of the Rabobank Foundation, explains why CSS (Christian Service Society) has been chosen as a new partner. "It is a cooperative for savings and credits in rural areas and it is also in need of capacity building. These are two important criteria for us."
The Rabobank Foundation, established in 1973, supports people who have no access to financial services. Michael de Groot: "The Rabobank has no branches in Bangladesh, so one of our Dutch experts will visit the country two or three times a year to give CSS personnel training and advice. He will spend some six, seven weeks a year with CSS."
Mark Munshi, the director of CSS, came over to the Netherlands last week for the formal signing of the new partnership. He said: "CSS has 34 years of experience in development cooperation, but the Rabobank has a much wider experience in micro credits. By combining our experiences we will succeed much better to help the poor in Bangladesh." CSS has started its micro credit scheme in 1973 and has been helping some 4.7 million clients. It is now a self-revolving fund.
For the Dutch Christian ngo Woord en Daad this is the first time that Rabobank Foundation joins forces with one of its partners in developing countries. In a period of three years they will try to professionalize the micro credit scheme and set up a Micro Finance Institution on a cooperative basis. The project lasts three years, and, if successful, might be expanded to other partner organisations of Woord en Daad.
P+ Webtip: Rabobank Foundation